Consolidated Shareholders' Equity

Consolidated Shareholders' Equity. Shall mean the sum of (a) the consolidated shareholders equity of the Guarantor, as reported on the Form 8-K most recently furnished by the Guarantor (or on its behalf) to the Securities and Exchange Commission (it being understood and agreed that Consolidated Shareholders' Equity shall be calculated after net accumulated other comprehensive losses but not after gains) and (b) accumulated depreciation as reported on such Form 8-K.

Consolidated Shareholders' Equity. As of any date of determination, the total assets of the Borrower and its Consolidated Subsidiaries, less all liabilities of the Borrower and its Consolidated Subsidiaries. As used in this definition, "liabilities" means all obligations that, in accordance with GAAP consistently applied, would be classified on a balance sheet as liabilities (including without limitation (to the extent so classified), (a) Indebtedness; (b) deferred liabilities; and (c) Indebtedness of the Borrower or any of its... Consolidated Subsidiaries that is expressly subordinated in right and priority of payment to other liabilities of the Borrower or such Consolidated Subsidiary, but in any case excluding as at such date of determination any Junior Subordinated Debt owned by any issuer of Hybrid Equity Securities); provided that "liabilities" shall not include any Guarantees by the Borrower or any of its Consolidated Subsidiaries of any Midstream JV Term Loan Indebtedness (including the Guarantee by the Borrower under the CERC Subordinated Guaranty of Collection) View More